Hiring a property management company to handle daily operations can be an asset to a property owner. The following are factors to consider when selecting a company.
1. Property management companies charge fees for their services, ranging from lease renewal to reserve fund fees. The latter covers operating expenses accrued on a day-to-day basis, so bills are reconciled in a timely manner.
2. A good property management company stays on top of maintenance and schedules regular inspections to ensure homes are preserved as best as possible. Inspections should be completed every six months, not only when units are vacant.
3. Property management companies are responsible for keeping units occupied with quality tenants. They use free and paid media outlets to advertise vacant units. An ideal service can fill units in less than one month.